AP keen on industrial infra
The Minister explained that the transport section is being seen as the major thrust area in the near future by some multilateral development banks (MDBs).
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Vizag Metro
The Minister explained that the transport section is being seen as the major thrust area in the near future by some multilateral development banks (MDBs). Vizag Metro is picking up pace and the project cost is around Rs16,000 crore and the government is in talks with MDBs and financial institutions for exploring various funding options. "Our government is looking at ways by which MDBs can have more skin in the game; e.g. with partial enhancement or project guarantee, instead of full risk borne by the government. The focus of our government is on creating the underlying soft loan and concessional facilities, providing technical assistance, involving an explicit guarantee mechanism," he pointed out.
Visakhapatnam: AP Industries Minister Mekapati Goutham Reddy on Friday said the State under the leadership of Chief Minister YS Jagan Mohan Reddy was giving top priority to investment in infrastructure. Reddy was speaking at a virtual conference on "Business opportunities with largest sources of funding" organised jointly by FTCCI and FAPCCI. He said, "the government is focused on investing into the future by creating hard infrastructure such as industrial corridors, industrial parks, ports, airports coupled with the soft infrastructure such as improving the educational facilities, health care, skill development and capacity building so that our youth are well equipped to reap the benefits of industrialisation." He said Asian Development Bank is on board with the Visakhapatnam Chennai Industrial Corridor Development Program (VCICDP) complementing the ongoing efforts of the Government of Andhra Pradesh to enhance industrial growth and create high quality jobs."
The VCICDP popularly known as VCIC by ADB comprises a multi-tranche financing facility (MFF), a grant, and a policy-based loan amounting to a total of $630 million.
Reddy said, "we recently concluded our agreement with the New Development Bank (NDB) for two road projects worth $646 million. About 1,600 km of State Highways will be widened to double-lane and dilapidated bridges reconstructed on the State highway network. AP Mandal Connectivity and Rural Connectivity Improvement Project–comprises double-laning of 1,400 km of district roads and reconstruction of bridges on the district road network."
He said the government was working with the World Bank to improve the quality and responsiveness of the public health services in the State. Further, World Bank's funding rejuvenates watersheds for agriculture resilience through innovative development (REWARD) projects in five parched districts of Rayalaseema and also the tribal belt in Visakhapatnam district to be implemented over the next six years.
